In the world of small businesses, digital marketing is critical in growing your brand awareness and gaining new customers. Building a strong brand that is representative of your values will effectively connect with your target audience. However, this can sometimes require refreshing or rebuilding your brand to gain market share and increase your reach.
Deciding to rebrand your business is a big decision and shouldn’t be taken lightly. Staying relevant in an ever-changing market takes some work, and we have compiled some helpful tips on when to rebrand, measuring your brand awareness, and the benefits of rebuilding your brand. Keep reading below to learn more!
When to Rebrand
When you’re a small-to-medium-size business, recognizing when to rebrand your business is essential. Keeping your brand relevant within a crowded marketplace often requires changing things up a bit. Having a distinct brand will help you stand out among your competitors and give consumers a reason to choose you.
One primary reason to consider rebranding is if your current marketing isn’t getting results. If your advertising dollars are not leading to conversions, your relevance may be falling flat. Rebranding can help you change your digital marketing strategies to reflect current Google trends, increase your social media reach, and increase your marketing ROI.
A few other reasons you might consider rebranding include:
- New philosophy – your brand may not fully embody who you are as a business and what you represent. You may feel as though you’ve outgrown your current branding and want to evolve into something fresh and exciting.
- Market repositioning – your brand should help you build connections with your customers. You want your brand to tell your story, helping you to better relate to the new market you’re aiming to reach.
- New locations – if your business is expanding, you may need to readjust your brand to be more specific to your new area.
- Mergers or acquisitions – when two businesses come together, it’s essential to bring those two brands together. By combining the essence of each business, you can create a brand that connects your audience.
Measuring Your Brand Awareness
Brand awareness is one of the primary goals of digital marketing. Measuring your brand awareness can be tricky, but it’s essential to determine when and how to rebrand. Google Analytics is one of the best tools to measure brand awareness effectively. This analysis helps to identify the source of your web traffic, user demographics, and audience engagement. These factors provide vital insights into what is (and isn’t!) working for your brand.
Another capable software for measuring brand awareness is Moz. We use this tool to analyze SEO and determine what precisely can be improved. It’s essential to regularly monitor your brand awareness to stay on top of your brand and produce meaningful results. Our team will provide you with regular updates and information on your Google search results, web traffic, ROI, conversion rates, and more!
How to Successfully Rebrand Your Business
The first step in rebranding your business is to decide if you need a partial or total brand refresh. For newer businesses, a fresh, eye-catching brand can be what’s needed to build up a strong following. For companies with an established presence, partial rebranding can give your brand a virtual face-lift and help you reach new markets. Once you’ve determined if you need a partial or total rebrand, the following steps will maximize your potential.
- Analyze your brand’s audience and market. Once you’ve taken a closer look at the data surrounding your digital marketing, you’ll see who you’re reaching and who your competitors are. Once you understand who you’re reaching, you’ll start rebranding to better connect with your market.
- Redefine your mission, values, and purpose. These three components make all the difference when rebranding your business. Once you can clearly define each of these for your business, you can decide what areas need attention.
- Rebuild your brand identity. After you’ve established your mission and goals, creating a brand identity to reflect them is a must. Updating your logo, colors, typography, and other small details will bring your newly rebranded business to the forefront.
How Rebranding Can Help Your Business
When your brand is outdated or no longer reflects your business, it can lead to stagnating growth opportunities. Once you’ve assessed your current standing in the market and effectively measured your brand awareness, you’ll determine what aspects of your business are working and where changes are needed. Some major components of your brand to consider are your vision, mission statement, and values. When your brand is indicative of your purpose, you’ll be able to expand your reach and connect with your target audience.
Rebranding can also help you to reach a wider audience. When your brand is unique, it will make you stand out in a crowd and reach people you may not have had access to before. Updating your brand will help you stay fresh and current in a time when things are constantly evolving.
Start Your Rebranding with Neon Canvas
There’s no doubt that rebranding your business is a big project! When you’ve built a community surrounding your business and later determine it’s time for an update, rebranding can bring about some anxiety. However, it can be just what you need to increase your visibility and growth! When you work with a creative, dedicated team like the one here at Neon Canvas to bring your vision to life, you can grow your business with passion and purpose.